February 20, 2009 / 3:58 AM / 11 years ago

Citadel trader Malyshev resigns-report

NEW YORK, Feb 19 (Reuters) - Citadel Investment Group LLC trader Misha Malyshev, who helped two of the firm’s hedge funds gain about 40 percent last year, has resigned, Bloomberg News said on Thursday, citing a person familiar with the firm.

Malyshev was head of “high-frequency” trading, a computer-dependent strategy used by two of the firm’s hedge funds, and left this week with two members of his team, the report said, citing the person.

Malyshev is unlikely to start or work with another fund in the next 18 months because of contractual restrictions, the report said, citing the person.

The report said Citadel spokeswoman Katie Spring confirmed the departures, without specifying which departures she was confirming. Spring did not immediately return a call from Reuters seeking comment.

Run by Kenneth Griffin, Citadel told investors last week it plans to meet redemption requests over time for its Kensington and Wellington hedge funds, after freezing them last year. [ID:nN13532248]

Citadel is one of many hedge fund firms that suspended redemption payments last year as credit markets tightened. Its funds fell by about half in 2008, with the biggest losses following Lehman Brothers Holdings Inc’s Sept 15 bankruptcy. (Reporting by Jonathan Stempel; Editing by Anshuman Daga)

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